Super Iron Foundry Limited, a prominent manufacturer of iron and steel castings, is launching its IPO on March 11, 2025, offering a fresh issue of 63.01 lakh shares at a fixed price of ₹108 per share. The IPO aims to raise ₹68.05 crores, with a market capitalization of ₹252.65 crores. The lot size for the IPO is 1,200 shares, with retail investors needing to invest a minimum of ₹1,29,600, while High-Net-Worth Individuals (HNIs) must invest ₹2,59,200.

Super Iron Foundry manufactures a diverse range of castings, including municipal castings, ductile iron pipe fittings, automotive castings, agricultural castings, railway components, and counterweights. With a modern, sustainable facility in Durgapur, West Bengal, the company serves a global market, exporting 95% of its products to high-growth infrastructure markets like the UAE, Qatar, Italy, Germany, and the USA.

Key Financial Insights:

• Revenue from operations: ₹15,482.99 lakh for FY 2024.
• Profit after tax (PAT): ₹394.06 lakh for FY 2024.
• The company's steady financial growth is underpinned by a consistent order book and strong demand from international infrastructure projects.

Grey Market Premium (GMP): As of now, the Grey Market Premium for the Super Iron Foundry IPO is expected to be ₹0, indicating no significant price movement before the shares are listed on the stock exchange. The GMP depends entirely on the demand-supply dynamics in the unorganized market.

IPO Subscription Status:
The subscription period for the Super Iron Foundry IPO will close on March 13, 2025, with real-time updates on subscription levels available on BSE. As of March 13, 2025, the IPO was subscribed 0.68 times on its final day of subscription. Investors can also track the live subscription status on the BSE platform for further updates.

Allotment Process:
The allotment date for the Super Iron Foundry IPO is set for March 17, 2025. Investors can check the allotment status online via the registrar’s website by entering details like application number, PAN, or DP Client ID.

Objectives of the IPO:
The net proceeds from the IPO will be utilized as follows:

1. ₹2,900.00 lakh for working capital requirements.
2. ₹1,600.00 lakh for the repayment of borrowings.
3. ₹1,524.39 lakh for general corporate purposes.

Company Overview:
Founded in 1988, Super Iron Foundry has established itself as a leader in the global foundry industry, specializing in high-quality iron castings for infrastructure, automotive, and industrial sectors. The company’s product portfolio includes access covers, gully grates, pipe fittings, and other critical components used in urban infrastructure, railway, and agricultural applications.

The company operates with state-of-the-art manufacturing facilities that incorporate robotic automation and high-precision molding systems. Super Iron Foundry is positioned strategically in West Bengal’s mineral belt, ensuring cost-effective access to raw materials for its casting operations.

Global Market Presence:
Super Iron Foundry serves a broad international market, with a significant presence in the UAE, Qatar, Europe, and North America. The company exports nearly all of its products and plays a key role in major global infrastructure projects, such as housing projects in Saudi Arabia and various metro projects in the Middle East.

Business Strengths:

• Product Diversity: A wide range of high-quality castings for industries such as infrastructure, automotive, and railways.
• Technological Edge: Use of automation and robotic systems for precise, efficient production.
• Global Leadership: Market dominance in municipal castings, exporting to multiple international markets.

Risks and Challenges:

• Dependency on Exports: A large portion of revenue (95%) comes from exports, which exposes the company to international economic fluctuations and geopolitical risks.
• Raw Material Price Volatility: Prices of key raw materials like pig iron and alloys are subject to global demand-supply changes, which could impact profit margins.
• Regulatory Risks: The company operates in a heavily regulated industry with potential environmental and compliance risks that could affect operations.

In conclusion, Super Iron Foundry’s IPO offers a unique opportunity for investors to participate in a well-established company with a solid track record in the manufacturing and export of iron castings. While the IPO price appears fair given the company’s strong financials and industry standing, investors should consider the risks related to its dependence on exports and raw material price fluctuations. Given the absence of any Grey Market Premium and subscription activity, it is recommended that investors perform thorough due diligence before making an investment decision.

The Current active IPO are Paradeep Parivahan, Divine Hira Jewellers.

The Closed IPOs are  Super Iron Foundry, PDP Shipping & Projects.

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